Monadnock Development
(Monadnock Construction)
People:
Monadnock Development NYC portfolio
$1.9 billion -elevator 23%, development 18%, industrial 15%; Brooklyn 56%, Manhattan 31%, Bronx 11%*
169th largest portfolio by dollar value
2,377,089 sqft – elevator 57%, walkup 16%, D7 9%; Manhattan 73%, Bronx 15%, Brooklyn 10%
233th largest by SF
88 properties – Brooklyn 44%, Manhattan 42%, Bronx 12%
99th largest
4,797 residential units – Manhattan 53%, Brooklyn 39%, Bronx 7%
73th largest by residential units
Company Activity past 24 months:
Buyer company: 1 for $11.2 million
Seller company: 1 for $26.3 million
Borrower company: 2 for $419.6 million
Developer (new building or major alteration): 1 for 415,944 square feet
Top Ten Associated Companies:
NYC Housing Development Corporation (5), NYS Housing Finance Agency (3), Wells Fargo (2), New Providence (Shelter) Deal ID No. 50008926 (1), NYC Department of Housing Preservation and Development (1), (1), CUNA Mutual Group (1), U.S. Bank (1), New York City Housing Authority (1), Wavecrest Management (1)
Top Ten Associated People:
Patrick Love (1), Russell Hubley (1), Joseph M. Camerata (1), Lauren Connors (1)
Recent activity as company:
• Monadnock Development and Brooklyn Community Housing and Services borrowed $244.6 million from NYS Housing Finance Agency for N/A East 49th Street and 86 East 49th Street, None, Brooklyn on June 30, 2026.
• Brookdale Hospital Medical Center sold N/A East 49th Street and 86 East 49th Street, None, Brooklyn for $11.2 million to Monadnock Development and Brooklyn Community Housing and Services on June 30, 2026.
• Monadnock Development borrowed $175 million from U.S. Bank for 144 2 Street on November 14, 2025.
• Monadnock Development sold 115 West 141 Street for $26.3 million to Wavecrest Management on July 19, 2024.
• Monadnock Development borrowed $110.4 million from NYC Housing Development Corporation for 890 Erskine Street on April 26, 2024.
• Gotham Organization, Christian Cultural Center and Monadnock Development borrowed $217.4 million from NYS Housing Finance Agency, NYC Department of Housing Preservation and Development and for 25 Innovation Way East on March 27, 2024.
• Christian Cultural Center sold 25 Innovation Way East for $13.9 million to Gotham Organization, Christian Cultural Center and Monadnock Development on March 27, 2024.
• Monadnock Development and Project Renewal borrowed $102.9 million from NYC Housing Development Corporation and New Providence (Shelter) Deal ID No. 50008926 for 225 East 45 Street on December 21, 2023.
• Monadnock Development borrowed $218.7 million from NYS Housing Finance Agency for 113 East 49 Street on December 13, 2023.
• Brookdale Hospital Medical Center sold 113 East 49 Street for $26.7 million to Monadnock Development on December 13, 2023.
Latest Stories:
• Monadnock signs $110.4M construction loan for 189-unit project in East New York (May 06, 2024)
• Monadnock, Project Renewal sign $102.9M construction loan in Grand Central (January 29, 2024)
• Monadnock pays $26.7M to Brookdale Hospital for dev site in East Flatbush (December 18, 2023)
• Nonprofit files plans for 21-story shelter in Grand Central (April 05, 2023)
• Monadnock Development signs $107.9M construction loan in East New York (January 09, 2023)
• Monadnock Development signs $42.5M loan for office development in Gowanus (December 20, 2022)
Properties: